Organon's (OGN) planned $12 billion sale to Sun Pharmaceutical Industries is set to be backed by a bridge loan arranged by global banks, Bloomberg reported Monday, citing unnamed sources familiar with the matter.

Lenders, including Mitsubishi UFJ Financial Group (MUFG), JPMorgan Chase (JPM) and Citigroup (C), have committed to providing short-term financing that could run for 12 to 18 months, according to the report.

The final size of the facility remains subject to change, it added.

Sun Pharma said it plans to fund $2 billion to $2.5 billion from cash reserves, with the remainder supported by bank financing, according to the report.

Organon, Sun Pharma, Mitsubishi UFJ Financial, JPMorgan, Citigroup did not immediately respond to MT Newswires' request for comment

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)